Hamilton Insurance Group (NYSE:HG) Given New $42.00 Price Target at Citizens Jmp

Key Points

• Citizens JMP raised Hamilton Insurance Group’s price target to $42 from $40 and maintained a “market outperform” rating, implying 17.61% upside from the reported $35.71 share price.
• Analyst sentiment is broadly positive: six analysts rate the stock a Buy and three rate it Hold, resulting in a “Moderate Buy” consensus and an average price target of $35.62.
• Hamilton reported quarterly EPS of $1.56 on $839.58 million in revenue, with a 23.19% return on equity and 21.73% net margin; shares were up 0.5% in Friday trading.

Hamilton Insurance Group (NYSE:HG - Get Free Report) had its price objective boosted by equities researchers at Citizens Jmp from $40.00 to $42.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. Citizens Jmp's price target would suggest a potential upside of 17.61% from the stock's current price.

Several other research analysts have also recently issued reports on the stock. UBS Group set a $33.00 target price on shares of Hamilton Insurance Group in a research note on Thursday, May 21st. Wells Fargo & Company raised their price target on shares of Hamilton Insurance Group from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Citigroup restated a "market outperform" rating on shares of Hamilton Insurance Group in a report on Friday. Weiss Ratings raised Hamilton Insurance Group from a "buy (b)" rating to a "buy (b+)" rating in a research report on Friday, June 12th. Finally, Wall Street Zen upgraded Hamilton Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $35.62.

Hamilton Insurance Group Stock Up 0.5%

Shares of Hamilton Insurance Group stock traded up $0.16 during midday trading on Friday, hitting $35.71. The company had a trading volume of 80,747 shares, compared to its average volume of 509,964. Hamilton Insurance Group has a 52-week low of $22.31 and a 52-week high of $37.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $3.54 billion, a P/E ratio of 5.85 and a beta of 0.33. The company has a 50 day moving average of $33.34 and a 200 day moving average of $31.28.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last released its earnings results on Wednesday, July 1st. The company reported $1.56 EPS for the quarter. Hamilton Insurance Group had a return on equity of 23.19% and a net margin of 21.73%.The business had revenue of $839.58 million for the quarter. On average, equities analysts predict that Hamilton Insurance Group will post 4.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hamilton Insurance Group news, Director David A. Brown sold 37,300 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $32.16, for a total transaction of $1,199,568.00. Following the sale, the director directly owned 450,000 shares of the company's stock, valued at $14,472,000. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Treasurer Jonathan B. Levenson sold 6,075 shares of Hamilton Insurance Group stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $30.61, for a total value of $185,955.75. Following the completion of the transaction, the treasurer owned 39,629 shares of the company's stock, valued at approximately $1,213,043.69. This trade represents a 13.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 56,075 shares of company stock worth $1,789,638. 3.02% of the stock is currently owned by insiders.

Institutional Trading of Hamilton Insurance Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HG. Kestra Advisory Services LLC bought a new position in shares of Hamilton Insurance Group during the fourth quarter valued at approximately $25,000. KBC Group NV purchased a new position in Hamilton Insurance Group during the 1st quarter valued at $65,000. Royal Bank of Canada boosted its holdings in Hamilton Insurance Group by 15.8% during the 4th quarter. Royal Bank of Canada now owns 3,012 shares of the company's stock valued at $84,000 after acquiring an additional 410 shares during the period. Parallel Advisors LLC grew its position in Hamilton Insurance Group by 20.0% in the 1st quarter. Parallel Advisors LLC now owns 4,402 shares of the company's stock valued at $131,000 after acquiring an additional 735 shares during the last quarter. Finally, Strs Ohio purchased a new stake in Hamilton Insurance Group in the first quarter worth $112,000. 29.17% of the stock is owned by hedge funds and other institutional investors.

About Hamilton Insurance Group

Hamilton Insurance Group Ltd. is a Bermuda-based insurance and reinsurance holding company that trades on the New York Stock Exchange under the symbol HG. The company focuses on specialty lines of property and casualty insurance and reinsurance, providing tailored solutions to clients around the world. Its underwriting platform is designed to address complex and niche risks across multiple industry sectors.

Established in 2016 and completing its initial public offering in 2017, Hamilton has concentrated on building a diversified portfolio of insurance and reinsurance products.

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